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Cessna sees stabilization despite aicraft cancellations
Cessna sees stabilization despite aicraft cancellations
Aircraft manufaturer Cessna has been holding discussions with a large customer concerning the cancellation of 1.1 billion of jets on order, according to Textron. At the same time, the manufacturer still sees stabilization in the business jet market as the numbers of used aircraft is declining and customer utilization of the existing fleet has stabilized. The company expects that cancellations in the fourth quarter will reduce backlog by a total of approximately 1.7 billion, but these cancellations are not expected to have a material impact on planned deliveries through 2012. The company is going to provide its outlook for 2010 business jet deliveries when it releases earnings on January 28.

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